Tuesday, February 8, 2011

Central Bank of Armenia Raises Rate 50bps to 7.75%

The Central Bank of Armenia raised the annual refinancing rate 50 basis points to 7.75% from 7.25% previously. Armenia recorded monthly inflation of 2.8% in January this year, placing the annual inflation rate at 10.6% as rising food and commodity prices caused a surge in inflationary pressures. The Armenian Government noted in the state budget of Armenia 2011 that its inflation target is planned as 4.0% with a band of +/- 1.5%.


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